diff --git a/changelogs/fragments/108--disable_lookups.yml b/changelogs/fragments/108--disable_lookups.yml
new file mode 100644
index 0000000000..79739bdcf2
--- /dev/null
+++ b/changelogs/fragments/108--disable_lookups.yml
@@ -0,0 +1,2 @@
+bugfixes:
+  - "proxmox inventory plugin - avoid using deprecated option when templating options (https://github.com/ansible-collections/community.proxmox/pull/108, https://github.com/ansible-collections/community.general/pull/10553)."
diff --git a/plugins/inventory/proxmox.py b/plugins/inventory/proxmox.py
index 975c344aef..817017bc4a 100644
--- a/plugins/inventory/proxmox.py
+++ b/plugins/inventory/proxmox.py
@@ -682,7 +682,7 @@ class InventoryModule(BaseInventoryPlugin, Constructable, Cacheable):
         for o in ('url', 'user', 'password', 'token_id', 'token_secret'):
             v = self.get_option(o)
             if self.templar.is_template(v):
-                v = self.templar.template(v, disable_lookups=False)
+                v = self.templar.template(v)
             setattr(self, 'proxmox_%s' % o, v)
 
         # some more cleanup and validation